Unwins Update.

Posted on December 22, 2005 by Andrew Barrow in Articles
As staff pack their bags the Telegraph states that DM Private Equity, who purchased the chain in March, claim a discrepancy in the accounts that amounts to a variance of £13.2million. What I don’t understand is why the same company is now able to bid for Unwins’ assets? They, along with Castel (owners of Oddbins) in conjunction with Wine Cellar and Whittals Wines, have come forward with ‘rescue’ packages. (The Unwins website is still viewable…)

Telegraph.co.uk
“DM Private Equity, which bought Unwins last year for £32m, said in a statement it was planning “to seek full restitution and damages resulting from its acquisition of the Unwins Wine Group Limited and its subsidiaries”. Included in the list of possible targets for its legal action is the company’s auditors Grant Thornton. “

UPDATE: Financial details from BCM and staff housing problems from the BBC.